Mr James D. Wolfensohn, President of the World Bank, has pledged the bank's support for President John Agyekum Kufuor's government.

"I want to assure you that the World Bank will be ready to support you in the months and years to come, and we look forward to a close and productive relationship with you," he said in a letter to Mr Kufuor released to the press on Tuesday.

Mr Wolfensohn told Mr Kufuor that as he takes office, he would be turning attention to the problems facing the country.

"As you have been articulating so clearly during the election campaign, there are some very serious economic challenges to be faced in Ghana.

"Our Country Director in Ghana, Peter Harrold, has explained to me the policies that you have been espousing, and it is clear that we will be able to support you and work well with you and your team as you move to implement these policies."

Mr Wolfensohn also congratulated Mr Kufuor on his election and all others involved in the vote for the way it was conducted.

"It was a real victory for democracy in Africa, and all Ghanaians can be justifiably proud of what has just been achieved in your country," he said.